FAMOUS BRANDS LIMITED - Voluntary announcement: new management reporting structure

Voluntary announcement: new management reporting structure

Famous Brands Limited
(“Famous Brands” or “the Group”)
Incorporated in the Republic of South Africa
Registration number 1969/004875/06
JSE Share code: FBR
ISIN code: ZAE000053328


VOLUNTARY ANNOUNCEMENT: NEW MANAGEMENT REPORTING STRUCTURE

Earlier this year Famous Brands embarked on a programme aimed at
sustaining robust growth of the business over the forthcoming
decade.

One of the more significant interventions relating to this programme
has been the implementation of a business transformation project,
which has already started to deliver encouraging results.

Phase 2 of this project focused on the leadership structures of the
business.

In this regard, effective 1st January 2014, Chief Executive Officer
Kevin Hedderwick’s designation will change to that of Group Chief
Executive Officer. His primary responsibility will be Group
Strategy with an overarching focus on future growth of the business
and unlocking further value for stakeholders.

Consequently, Darren Hele, currently Chief Operating Officer, will
be appointed as Chief Executive Officer, assuming responsibility for
the operational component of the business currently managed by Kevin
Hedderwick.

Commencing on 1st January 2014 through to end February 2014, Kevin
Hedderwick will conduct a formal handover of his current portfolio
to Darren Hele thereby aligning this change of responsibilities with
the commencement of the Group’s F2015 fiscal year.

Both Mr Hedderwick and Mr Hele will formally assume their new roles
effective 1st March 2014.

Kevin Hedderwick comments, “Darren's appointment is not only well
deserved, but reward for his untiring commitment to the Group since
he joined us from the Pleasure Foods business which we acquired in
December 2003. I could not be handing over my current portfolio in
the Group to a more competent and professional colleague - and
someone who is also an exceptional leader.”

On behalf of the Board, Ms Santie Botha, Independent Chairman says,
“Famous Brands has achieved consistently good growth over recent
years. Given the Group’s ambitious expansion plans, this new
management structure is designed to optimise future growth
opportunities under Kevin’s visionary leadership, while ensuring
that existing operations continue to perform at their peak under
Darren.”

Midrand
11 November 2013

Sponsor:
The Standard Bank of South Africa Limited

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